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's efforts to protect its spectacular natural environment. air pollution regulations require special summer and winter gasoline blends in the state. refineries are making that seasonal switch now. but that reduces supply which was already tight after a fire in august shut down part of a chevron refinery at richmond near san francisco. then last week a power failure temporarily knocked out an exxon refinery at torrance in southern california. >> the richmond refinery and torrance refinery account for about 25% of the production in california because they are two of the biggest refiners we have. it is easy to see why the wholesalers panic. >> as wholesalers raise prices, drivers started to panic as gas seemed to get more expensive by the hour. >> i just don't see it going down any time soon. >> reporter: state energy officials are trying to reassure drivers that price spikes like this don't last. >> this is a very dramatic one. but we do know that what goes up does come down and often quite quickly. >> reporter: in fact, wholesale prices have started coming down. dropping 55 cents on the spot
environment. do you think you are ready for that? >> i know i'm ready for that because i've been trained the last five years. >> reporter: baumgartner, a 43-year-old austrian and elite sky diver will rise before daybreak and be lifted by a helium balloon. the assent will take three hours. temperatures will fall as low as minus 70 degrees. once he jumps, baumgartner wearing a pressurized suit will be in free fall for five minutes. his top speed could hit 700 miles per hour. he'll become the first human in free fall to break the speed of sound. >> nobody can tell me what happens to the human body in free fall when you fly super sonic speed. >> reporter: joe kittinger has held the skydiving record since 1960 when the air force captain jumped from 19 miles up. kittinger now 84 is helping to train baumgartner to break his record. >> we have better suits and better equipment but the danger is still there. hasn't changed a bit. >> reporter: nasa and the u.s. air force will monitor baumgartner's jump to learn about high altitude limits on the human body. are you understandably nervous about that
the environment in the corporation, in washington. he literally talked about how he did it in massachusetts with 70% of the people being democrats who had the job. >> what do the conservatives do and this is mitt romney's move to the middle? >> they will grint their teeth and appreciate it as long as he is moving upward in the polls. we haven't seen if he is going to get bounce at all. >> theyit's the al davis philosophy, just win baby. believe he gets the bump. i believe the bump will come from the crisp nature of his responses. he sounded like the common man. he didn't sound like bane capital exploiting everybody who was part of a 97% for the 3%. he sounded like the guy from the streets. he sounded like the guy that i walk by almost everyday working on a job on the city payroll. >> conservatives want him to go at obama, to express anger and frustration. that's a lot what he did. it's amazing. i never thought i would hear willie brown's people say that. i would grab the segment and turn it in to a commercial. >> i'm being very candid. as a matter of fact for example you readily column, you
in this environment. let me make one more point. >> lehrer: let me -- let him answer the taxes thing for a moment. mr. president? >> well, we've had this discussion before. >> lehrer: about the idea that in order to reduce the deficit there has to be revenue in addition to cuts. >> there has to be revenue in addition to cuts. governor romney has ruled out revenue. he's ruled out revenue. >> lehrer: that's true. >> absolutely. >> lehrer: completely? >> the revenue i get is by more people working getting higher pay paying more taxes. that's how we get growth and balance the budget. but the idea of taxing people more, putting more people out of work, you'll never get there. you never balance the budget by raising taxes. spain. spain spends 42% of their total economy on government. >> lehrer: okay. >> we're now spending 42% of our economy on government. i don't want to go down the path to spain. i want to go down the path of growth that puts americans to work with more money coming in because they're working. >> lehrer: mr. president you're saying in order to get the job done it's got to be balanced? >>
Search Results 0 to 3 of about 4